United Kingdom Inflation August 2019

United Kingdom: Inflation moderates in August

September 11, 2019

Consumer prices increased 0.4% in August compared to the previous month, up from July’s flat growth. The increase was largely due to higher prices for clothing and footwear, in addition to more expensive food and non-alcoholic beverages.

Inflation slowed to 1.7% in August from 2.1% in July, moving below the Bank of England’s (BoE) 2.0% target and confounding market expectations of a fall to 1.9%. August’s inflation reading also represents the lowest figure since December 2016. Core inflation—which excludes food and energy costs—moderated to 1.5% from 1.9%.

The Bank of England sees inflation at 1.6% in Q4 2019 and 2.1% in Q4 2020. FocusEconomics Consensus Forecast panelists expect inflation to average 1.9% in both 2019 and 2020.

Author:Edward Gardner, Economist

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